REG-Petrofac Limited Petrofac Limited: ADNOC Gas awards Petrofac contract for landmark carbon capture, utilisation and storage project

PetrofacAnnouncement

03/10/2023 07:00

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   Petrofac Limited ( PFC)
   Petrofac Limited: ADNOC Gas awards Petrofac contract for landmark carbon
   capture, utilisation and storage project

   03-Oct-2023 / 07:00 GMT/BST

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                                 Press Release

    

    

   3 OCTOBER 2023

    

    

        ADNOC GAS AWARDS PETROFAC CONTRACT FOR LANDMARK CARBON CAPTURE,
                        UTILISATION AND STORAGE PROJECT

    

   Petrofac, a leading international service provider to the energy industry,
   has been  awarded  an  Engineering,  Procurement  and  Construction  (EPC)
   contract by  ADNOC Gas  for its  Habshan Carbon  Capture, Utilisation  and
   Storage (CCUS) project, one of the largest carbon capture projects in  the
   Middle East and North Africa region.

   The contract  is valued  at  more than  US$600  million and  involves  the
   delivery of carbon capture units, associated pipeline infrastructure and a
   network of wells for carbon dioxide (CO2) recovery and injection.  Located
   at the  Habshan gas  processing  plant, 150  kilometres southwest  of  Abu
   Dhabi, the project is part of ADNOC’s accelerated decarbonisation plan.

   Tareq Kawash,  Petrofac's Group  Chief Executive,  said: “By  accelerating
   plans to make energy cleaner, the UAE is investing in its future. We  look
   forward  to  combining  our  CCUS  expertise  and  UAE  project   delivery
   experience to support  ADNOC Gas  in delivering  on their  decarbonisation
   plans, maximising energy output while minimising emissions, and helping to
   support the UAE’s energy transition.”

   Elie Lahoud, Chief Operating Officer, Petrofac Engineering & Construction,
   commented: “Petrofac is  committed to supporting  ADNOC Gas in  delivering
   lower-carbon growth.  We  have over  30  years’ experience  of  successful
   delivery here  in the  UAE and  continue to  put In-Country  Value at  the
   centre of our  operations, utilising  the local  supply chain,  developing
   capabilities and creating new opportunities for UAE Nationals.”

   Petrofac has been  deploying its expertise  in gas processing,  transport,
   and  storage,  to  support  the   early  development  and  definition   of
   large-scale CCUS  projects since  2015. The  company first  established  a
   presence in the UAE in 1991 and has developed a large workforce to support
   both regional  and international  energy projects.  With a  commitment  to
   deliver In-Country Value,  Emiratisation is  a key  business priority  and
   Petrofac is actively promoting current career opportunities.

   Ends

    

   For further information contact:

    

   Petrofac:

   James Boothroyd, Head of Investor Relations

    1 James.boothroyd@petrofac.com

    

   Sophie Reid, Group Head of Communications

    2 Sophie.reid@petrofac.com

    

   Teneo (for Petrofac):

   Martin Robinson

   +44 (0) 207 353 4200

    3 petrofac@teneo.com

    

    

    

   NOTES TO EDITORS

    

   About Petrofac

    

   Petrofac is  a  leading  international  service  provider  to  the  energy
   industry, with a diverse  client portfolio including  many of the  world's
   leading energy companies.

    

   Petrofac designs,  builds,  manages  and  maintains  oil,  gas,  refining,
   petrochemicals and  renewable energy  infrastructure.  Our purpose  is  to
   enable our clients  to meet the  world's evolving energy  needs. Our  four
   values -  driven,  agile,  respectful and  open  -  are at  the  heart  of
   everything we do.

    

   Petrofac's core markets  are in the  Middle East and  North Africa  (MENA)
   region and the UK  North Sea, where  we have built  a long and  successful
   track record of safe, reliable and innovative execution, underpinned by  a
   cost effective and local delivery model with a strong focus on  in-country
   value. We operate in several  other significant markets, including  India,
   South East  Asia and  the United  States. We  have 8,500  employees  based
   across 31 offices globally.

    

   Petrofac is quoted on the London Stock Exchange (symbol: PFC).

    

   For additional  information,  please  refer to  the  Petrofac  website  at
    4 www.petrofac.com

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   Dissemination of a Regulatory Announcement, transmitted by EQS Group.
   The issuer is solely responsible for the content of this announcement.

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   ISIN:          GB00B0H2K534
   Category Code: CNT
   TIDM:          PFC
   LEI Code:      2138004624W8CKCSJ177
   Sequence No.:  275330
   EQS News ID:   1739657


    
   End of Announcement EQS News Service

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References

   Visible links
   1. mailto:James.boothroyd@petrofac.com
   2. mailto:Sophie.reid@petrofac.com
   3. mailto:petrofac@teneo.com
   4. https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=redirect&url=de0a3c59fad6f1848cd4fbe844343e3a&application_id=1739657&site_id=refinitiv2&application_name=news


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